On April 16, 2018, Vermilion Energy Inc. ("Vermilion") announced that it entered into an arrangement agreement to acquire Spartan Energy Corp. ("Spartan"). Total consideration for Spartan is approximately C$1.40 billion, comprised of C$1.23 billion in Vermilion shares plus the assumption of approximately C$175 million in debt.

Under the terms of the arrangement, Vermilion agreed to acquire all of the common shares of Spartan issued and outstanding at the effective time of the arrangement. Spartan shareholders will receive 0.1476 of a Vermilion share for each Spartan common share.

The Board of Directors of Vermilion and Spartan have unanimously approved the arrangement and recommended that Spartan shareholders vote in favour of the arrangement.

The arrangement is expected to close on or about June 15, 2018, subject to customary closing conditions, including receipt of applicable court, Spartan shareholder, TSX and NYSE, and other regulatory approvals.

Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing properties in North America, Europe and Australia.

Spartan is a publicly-traded southeast Saskatchewan oil and gas producer with operations in central Alberta and in southeast Saskatchewan and maintains a multi-year inventory of oil focused horizontal drilling opportunities.